It’s been a great run, but markets look set to bounce here with the SP 500 finding support area around 1880.
Long JPY trades closed, as a “swing low” on daily charts ( when tomorrow’s closes “higher” than today’s high ) should confirm a short-term move to the upside.
This will be a bounce, but considering volatility these days one can’t say for certain just how “big a bounce”.
Technical damage to markets is massive. I expect we float /drift sideways for the next couple weeks – offering few decent trading opportunities.
Stack all the cash you’ve recently made long JPY / short risk and go hit the beach for a couple of days. You won’t miss a thing.
What do you think about the USD right now? I’m longing the dollar but today it is getting beat up…
I can’t recommend getting long USD here…..as I don’t expect much upward movement.
I’m looking at USD trading relatively flat as equities take a bounce….then continue lower.
Just not enough meat on the bone for me to take the trade.
Take a shot but go small…….and don’t be afraid to book any profits early/fast.